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Attached are two charts. At the top of the chart is the S&P mid-cap index, the
middle plot is the S&P 500, and the bottom red line plot is ratio of the S&P
Mid-cap to the S&P 500. As you can see:(1) mid-caps have been on a roll since
relative strength ratio bottomed at the end of Q1-99 (at a level of 0.27), (2)
the ratio is the highest it has ever been for the past 10 years at 0.49 (an 81%
relative outperformance in two years), (3) the mid-caps are just off their all
time highs set in Q2-2000, having made several attempts at tha level over the
past month/two.
Leaving the question can the mid-caps continue their run from here, or is it
time for them to stall, and for their relative strength to revert to the longer
term mean of about 0.37 of the S&P 500?
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Attachment:
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Attachment:
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